Pervasip Corp. PVSP, along with Zen Asset Management LLCannounced on Monday the Signed a Letter of Intent to acquire substantially all of BCCTG LLC’s assets.

BCCTG, owners of various brands including Emerald City Cultivation, Emerald City Cured, Dabco, Dabs4Less and Vapes4less has agreed to the terms acquired by ZAM, cCombining its brands and concentrate offerings with ZAM’s Artizen brands to form a powerful brand portfolio that includes flower, pre-roll, dabbable concentrates and vape products.

The conditions include Acquisition of all BCTG assets including its brands, access to a Tier 2 grower/processor license and a turnkey laboratory also used to manufacture new products under the Artizen brand.

Under the terms of the LOI, Zen will acquire the assets of BCCTG for cash, paid out of contributed earnings with a monthly cap and cash neutral on current pre-transaction financials. In addition, Pervasip will make available 10.2% of Pervasip’s fully diluted equity in the form of restricted preferred stock to a group of BCCTG owners, investors and employees.

“As outlined in our 24-month roadmap, which we released on September 6, 2022, this acquisition ticks two of our boxes on our list of strategic goals to be achieved by the end of 2022,” German Burtscher, CEO of Pervasip, said. “Not only will it increase sales immediately upon final closing of the transaction, but it will also add infrastructure, expertise and a handful of well-respected brands to our range of brands. Brian Martin and his team at Emerald City Cultivation and Dabco have done an incredible job building a strong and well respected company.”

Photo: Courtesy of Geralt, Lindsayfox Pixabay